HARARE – Low-cost pan-African airline, Fastjet, says it has transported over two million passengers across the African skies since launching in November 2012. As part of strategies to grow its revenue base and demystify flying to many Zimbabweans, the budget airline has launched a new promotion that will see lucky passengers winning a dream holiday…
HARARE – Finance minister Patrick Chinamasa has extended an olive branch to struggling National Oil Infrastructure Company of Zimbabwe (Noic) by temporarily exempting the state-owned enterprise from paying taxes. “The minister of Finance hereby declares the income accruing to Noic of the prepayment facility for utilisation of the fuel pipeline in the sum of $74,8…
HARARE – Suspended NetOne chief executive Reward Kangai has appealed to President Robert Mugabe for intervention in his epic duel with Information Communication Technology minister Supa Mandiwanzira, whom he has accused of running a witch-hunt against him and several other out-of-favour executives. This also comes as Alex Marufu’s board has sought to sustain allegations that…
HARARE – Zimbabwe has earned over $246 million from the export of 42,5 million kilogrammes (kg) of flue-cured tobacco since the beginning of the marketing season in March this year. Latest statistics from the Tobacco Industry and Marketing Board (TIMB), the country’s seasonal exports improved from the $234,2 million receipts recorded prior year comparable period after…
HARARE – The Zimbabwe Stock Exchange (ZSE) has lifted the suspension of CFI Holdings Limited after the diversified concern complied with listing rules. CFI, which owns businesses in real estate and agro-industrial, was early this year suspended from trading on the local bourse after it failed to publish its September year-end results within the stipulated…
HARARE – Standing at approximately 1,5 metres Shingi Munyeza is by any standards a short man. But he is one of the few businesspeople in Zimbabwe with the guts to tell the government to implement strong economic reforms and end the present economic and political crisis. For the past four years, the country has been…
HARARE – Civil Aviation Authority of Zimbabwe (Caaz) says it needs about $100 million, in the short-term, to implement various aviation projects including airport upgrades and airspace improvements. Caaz general manager David Chawota last week told delegates at the International Air Transport Association (Iata) in Victoria Falls that the aviation authority — through collecting own…
HARARE – Africa-focused financial services group, Atlas Mara, says it has recorded a $2 million loss in the first quarter to March 2016 due to economic headwinds being experienced in Zimbabwe. The London-listed firm and BancABC Zimbabwe parent company made a $9 million profit in the prior comparable period in 2015. “The Southern Africa segment…
HARARE – Plastic pipes and fittings manufacturing firm — Proplastics — has invested over $1,2 million for a new machinery aimed at improving operational efficiency. The Zimbabwe Stock Exchange-listed company’s chief executive, Kudakwashe Chigiya, yesterday said the equipment, which is part of the plant replacement and modernisation programme that began in 2010, was expected in…
HARARE – The Confederation of Zimbabwe Industries (CZI) says it is engaging the government to come up with long-term solutions to present economic challenges. “The economy remains very delicate when my term started last year. We had hoped that by now we would be somewhere in terms of growing capacity utilisation, but the current indications…
